Middleby (NASDAQ:MIDD) Downgraded to “Hold” Rating by StockNews.com

StockNews.com cut shares of Middleby (NASDAQ:MIDD) from a buy rating to a hold rating in a research report report published on Monday morning.

A number of other equities research analysts have also recently issued reports on MIDD. Jefferies Financial Group restated a “hold” rating and issued a $160.00 price objective (down from $170.00) on shares of Middleby in a research note on Thursday, December 12th. Canaccord Genuity Group lifted their price objective on shares of Middleby from $155.00 to $192.00 and gave the company a “buy” rating in a research note on Monday. Finally, KeyCorp increased their target price on Middleby from $160.00 to $185.00 and gave the stock an “overweight” rating in a research report on Monday. One research analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $174.67.

Middleby Trading Down 1.6 %

NASDAQ:MIDD opened at $170.08 on Monday. Middleby has a 12 month low of $118.41 and a 12 month high of $177.90. The company has a current ratio of 2.81, a quick ratio of 1.70 and a debt-to-equity ratio of 0.66. The firm’s 50 day moving average is $141.67 and its 200 day moving average is $138.34. The stock has a market capitalization of $9.15 billion, a PE ratio of 23.46 and a beta of 1.61.

Middleby (NASDAQ:MIDD) last issued its earnings results on Thursday, October 31st. The industrial products company reported $2.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.48 by ($0.15). The firm had revenue of $942.81 million during the quarter, compared to the consensus estimate of $996.60 million. Middleby had a net margin of 10.14% and a return on equity of 14.66%. The business’s quarterly revenue was down 3.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.35 earnings per share. Sell-side analysts expect that Middleby will post 9.12 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of MIDD. Quarry LP raised its position in shares of Middleby by 133.3% in the second quarter. Quarry LP now owns 231 shares of the industrial products company’s stock worth $28,000 after buying an additional 132 shares in the last quarter. Covestor Ltd raised its holdings in shares of Middleby by 306.5% in the 3rd quarter. Covestor Ltd now owns 252 shares of the industrial products company’s stock valued at $35,000 after acquiring an additional 190 shares in the last quarter. UMB Bank n.a. boosted its position in shares of Middleby by 93.2% during the 3rd quarter. UMB Bank n.a. now owns 282 shares of the industrial products company’s stock valued at $39,000 after acquiring an additional 136 shares during the last quarter. Avior Wealth Management LLC grew its holdings in shares of Middleby by 820.0% during the third quarter. Avior Wealth Management LLC now owns 322 shares of the industrial products company’s stock worth $45,000 after purchasing an additional 287 shares in the last quarter. Finally, GAMMA Investing LLC increased its position in shares of Middleby by 91.8% in the third quarter. GAMMA Investing LLC now owns 489 shares of the industrial products company’s stock worth $68,000 after purchasing an additional 234 shares during the last quarter. 98.55% of the stock is owned by institutional investors.

Middleby Company Profile

The Middleby Corporation designs, markets, manufactures, distributes, and services foodservice, food processing, and residential kitchen equipment worldwide. Its Commercial Foodservice Equipment Group segment offers conveyor, combi, convection, baking, proofing, deck, speed cooking, and hydrovection ovens; ranges, fryers, and rethermalizers; steam cooking, food warming, catering, induction cooking, and countertop cooking equipment; heated cabinets, charbroilers, ventless cooking systems, kitchen ventilation, toasters, griddles, charcoal grills, professional mixers, stainless steel fabrication, custom millwork, professional refrigerators, blast chillers, cold rooms, ice machines, and freezers; soft serve ice cream, coffee and beverage dispensing, home and professional craft brewing equipment; and fry dispensers, bottle filling and canning equipment, IoT solutions, and controls development and manufacturing.